WHAT ARE BITCOINS?
The simplest and the only quick answer would be that Bitcoins are electronic currency (a bit like Euro) that can be traded anytime with euros and dollars and it can be used to buy goods and services, or just to re-invest in bitcoin.
This answer, though, besides being simple, would also be simplistic, because it doesn’t help understanding all the underlying mechanisms concerning for example the safety of this currency, its creation and its trade: mechanisms that, unfortunately, cannot be explained or understood in just 5 minutes (not fully).
That’s why we decided to provide you three videos:
- The first one is a one-minute video and is taken from the official site of the project bitcoin.org, you will need it to have a proper overview of Bitcoins’ creation, safety and trading.
- Second one is a five-minute video, taken from World Street Journal channel and it will help to show you the effect that this currency is having on Italian and global economy.
- Third one is a 30-minute video and it’s an interview by the independent journalist Claudio Messora to Marco Amadori, a researcher at Fondazione Bruno Kessler, you will need this one to dig inside very complex mechanisms, allowing you to make them clear and, by doing so, to find out the huge potential and the revolutionary aspect of this currency that many define as the currency of the future.
HOW DO BITCOINS WORK?
If you watched all the videos recommended, you probably already know the answer to this question. However, we’ll try to make this clearer, as far as possible.
Bitcoins are p2p electronic currency and to understand its functioning, then, we have to figure out what p2p means first.
What does p2p means?
When we say p2p (peer to peer), we are talking about a network of users in which anyone can send and receive data at any moment. A classic (and the best known) example of p2p is Emule. Have you ever heard of this one? When you download and install Emule all you do is basically log in to a virtual network in which every element of that network (meaning the one that has Emule) has the chance to receive or send files to other people that are part of it. That’s also how the network of Bitcoin works. The only difference is that, instead of sending files, you’ll send money, meaning bitcoins, instantly and without any service charge, without using sensitive data that could be used by third parties, and, most importantly, without taking the slightest risk.
Why without risks? Emule is full of risks, is full of viruses!
Legitimate objection, but Emule is full of viruses (that might metaphorically represent fake transitions, meaning fictitious items of bitcoins) due to the complete lack of monitoring. The network of bitcoin can rely on the work of miners, namely users that in addition to being a part of the network, contribute to make it safe, checking for the transactions to be real, saving them on a public registry, accessible to everybody, meaning it’s completely clear, and deleting all the other ones, removing any risk of scam. Anyone can choose to become a miner (we’ll see the necessary requirements later) and in exchange for the service performed for the community you’ll get bitcoins.
Who gives Bitcoins to the miners? I mean, who pays them?
Answer is easy: the network. Yes, that is exactly how this currency is created (or “mined”, slang), and that’s exactly the brilliance of this project. In fact, for every “closed” block of transactions, new bitcoins are automatically generated and distributed to the miners that have validated the transactions (for every block you earn 25 bitcoins, and this number halves every 210000 closed blocks), so this system basically auto-supports itself precisely because its users are pushed to make the network safe, and they also profit! But that’s not all, the fact that users are the ones generating the currency, avoids the currency to be manipulated by central and/or private banks, and that removes the risk of devaluation. That is also why bitcoins are defined as “people’s currency”. People create it, people trade it and people control it.
Why start using bitcoins?
For the following reasons:
- Trading Bitcoins is easy, quick and instantaneous
- Fees for the transfer are minimum (generally a few cents of euros)
- Personal data are not required to make a payment
- The number of online (and not) shops that allow the purchase of goods and services in bitcoins at a lower price than the original (because the running costs are lower) is increasing exponentially
- Both Ebay and Amazon will soon allow to use bitcoins to shop, they already announced it, just search on google “ebay opens to bitcoins”.
- In the world opened many cash machines, you just need to log to your account and withdraw euros
- Bitcoin is an internationally recognized currency
- A bitcoin account can be compared, in effect, to a bank account minus the expensive running costs
- The value of bitcoins is expected to grow over time
BEFORE WE START, HOW MUCH IS A BITCOIN WORTH?
CAN WE START NOW? NOPE, SUBMULTIPLES FIRST.
LET’S BEGIN, FINALLY! BUT… HOW TO START?
We finally have now all the necessary basis and we can start. To start our adventure in the world of Bitcoins we need to to create our Bitcoin wallet thanks to which we’ll be able to receive and send Bitcoins in total autonomy. We can create it in two ways:
- Downloading the program from the official site bitcoin.org, that will allow us to create and check our bitcoin wallet straight from our pc (but be careful in this case, always do a backup and save it to a flash drive, otherwise you’ll risk to lose everything, if your hard disk gets broken)
- Opening a bitcoin wallet online. Speaking of which, we advise you to sign up to Blockchain or to the great and newest service called “Xapo” that will make your experience in this new reality easy, safe and intuitive. Signing up to Xapo through this link you will get a bonus of 0.05 mBTC (50 Bits, or 5000 Satoshi) the moment you’ll verify your account!!
It doesn’t matter the method you’ll choose: the result will always be the same: in fact, whether you choose to download the program, whether you choose to create your wallet online, you’ll get a link similar to this one: “1AHe7Vx4rzwKQAiQkEfRwtwtgU2QguUzge”. Once you get this, you should be able to start receiving/sending your payments in bitcoins and start earning free bitcoins!
Online and offline Bitcoin Wallet – Let’s go!
Earn Free Bitcoin:
Finally, we get to the point: there’re really infinite ways to earn free bitcoins, there are for example sites that let you earn cents of bitcoins by clicking on their sponsors and visiting them for a number of seconds, other sites will let you do this through a simple sign up (always to their sponsors), others will have you download some apps for smartphones and others will just want you to send a tweet. For convenience and for ease of understanding, we subdivided all the possible ways in 5 main categories:
- Earning Free Bitcoins with the Mining (how to mining bitcoins)
- Earning Free Bitcoins with Faucets (sites that pay thousandths of BTC to solve simple captcha)
- Earning Free Bitcoins with the Pay Per Action(PPA, meaning you get paid for do an action: a sign up, a download, etc.)
- Earning Free Bitcoins with the Pay Per Play(PPP, meaning you get paid to play funny online games)
- Earning Free Bitcoins with the Paid To Click(PTC, meaning you get paid to visit sponsors)
If, however, you’re not interested in earning free bitcoins, but you want to invest something, we suggest you the most common methods to invest in bitcoin:
- Earning investing in Bitcoins: how to invest in Bitcoins
- Earning purchasing and selling Bitcoins: how to invest in Bitcoins
- Earning betting on Bitcoins: how to invest in Bitcoins
Memo; to access to some links on this site (not the ones above, though) you have to wait for some seconds, and next you have to click on SKIP AD in the upper right, that’s our way to earn free bitcoins!
HOW TO EARN MINING. HOW TO MINE BITCOINS:
The first method (but unfortunately, less profitable than it used to be) to get bitcoins is mining. Not so long ago, the mining simply consisted of providing the computing power (with the help of an appropriate software) in order to solve some calculations that basically helped keeping the network safe (checking all the transactions), and mining bitcoins. As the project went on, though, calculations became more and more complex and hard to solve, and as a consequence, even with the newest pc you wouldn’t be able to mine not even a bitcoin in a decade. However, though it’s not that easy anymore, you can still try mining today, in two ways:
- Mining on your own, but unfortunately you can’t start doing that for free anymore, in fact you’ll need to buy a hardware specifically designed for the mining, but these are very expensive and not for everyone. If you are curious to see them, you can check them out on ebay.
- Mining in pool/cloud Clouds are sites that offer very powerful groups of servers (meaning computers) whose ultimate aim is to mine, and they “rent” part of their computing power of the server (called GH, gigahash) to those who want to begin. So you have to do nothing with your own pc (and that’s a very good thing), you only need to sign up on specific platforms and they do the rest, you’ll only need to check, occasionally, the bitcoins mined and, if you consider it necessary, rent some other Gh. Some sites let you re-invest in bitcoins the fruit of your work. One of the best ways to invest in bitcoin! Anyway if you want start mining with your computer (better choise in this case is to mine altcoin) you can do it with a pool.
Below, we list you some clouds that give you 50Gh when you sign up, so you’ll only need to sign up to start mining for free!
Surely the best and most stable one. Our staff mined 5 BITCOINS already thanks to this cloud!!!
This is also a very good cloud (and pool) for mining. You can both buy GH to mine bitcoins online, or you can start mining alternative currencies (we recommend: Monero, ZCash or Bytecoin) for free, with your own processor and/or your own GPU.
TO BE UPDATED
To update: if you know some stable clouds contact us through the form at the bottom of the page.
EARNING FREE BITCOINS WITH THE FAUCETS
What are the faucets? Faucets are sites that pay parts of bitcoins to solve simple captchas (meaning pictures like this one ), once you solve the captcha you can demand your own reward that ranges from 100 to 5000 satoshis. The waiting time to repeat the operation (meaning to add a new captcha and demand a new reward) ranges from just one hour to 24 hours. The satoshis you collect time after time will accumulate and you’ll be able to ask for the transfer to your bitcoin wallet once you reach the minimum threshold of payment (we will indicate this below).We remind you that the faucets to give bitcoins are fund with the help of advertising, and they’re often inundated with it, so: don’t be scared!
Here’s the list of the best faucets:
Waiting time: 5 minutes
Minimum threshold: 5500 Satoshis
Waiting time: 1 hour. Chance to multiply the bitcoins you have won
Minimum threshold: 5500 Satoshis
EARNING FREE BITCOINS WITH PPA (PAID PER ACTION)
What are PPAs? PPAs are sites that pay you to register in other sites (their sponsors), to download apps for smartphones, to fill out surveys, to take part in contests and so forth. We have made a list, that you can find below, with the most trusted sites of the field, with a brief description that will allow you to understand what can be done once you register to each site:
Qoinpro: on this site you’ll be able to earn bitcoins and other virtual currencies every day, without doing anything! You’ll only need to register to start with a “basic” account and you’ll get -everyday- credited with cents of bitcoins, litecoins, dogecoins, etc. with the possibility to level up if you invite your friends: the more you invite, the more the percentage of virtual currencies you’ll be credited for will increase. To be tried!
Coinbucks : this site let you earn free bitcoins downloading apps for your smartphone, downloading songs, taking part to contests and much more!
Bitcoinreward : this site gives you for free 1000 satoshis when you register. Once you register you’ll be able to earn other bitcoins by answering some surveys, signing up to sponsor sites etc.
Bitcoinget : this site let you earn free bitcoins in three ways: watching videos, completing offers and doing the things they suggest!
EARNING FREE BITCOINS WITH PPP (PAID PER PLAY):
We made for you a list of free (and not) sites that let you earn your bitcoins by playing
Satoshimines: who here has never played minesweeper? This site let you bet cents of bitcoin that will multiply every time you WON’T hit a mine! But be careful to stop in time, or you might lose everything!
Coincontroller: this game is not free. The goal of this is game is to take control of the currency and then give it away, getting the benefits. To do that, you have to buy the currency at its current value and wait (and hope) for someone else to buy it: doing so, we’ll get back the amount we paid at the beginning and we will earn from 10% to 30% of interest-rate.
EARNING FREE BITCOINS WITH PTCs:
EARNING BITCOINS BY INVESTING, HOW TO INVEST IN BITCOINS:
Once you get a good number of bitcoins, you can decide to do two things: block them on your account, hoping that in four or five years bitcoin’s value will be so high to literally make us rich, or invest them (all or a part) to earn more, trying to minimize the risks involved. Below we listed all the services that will let you invest your bitcoins:
Cex.io: this site not only allows you to mine, by buying Gh/s, but it also allow you to resell them, and if you study a bit the trading, you can get great earnings. The “trick” is to buy gh/s when its price is lower and resell them when the price goes up. You can program the orders of SELL and BUY (so you don’t have to be online all the time) and your gh/s will keep mining until the sale (to the price set in the phase of SELL) won’t be provided. A good strategy is to re-invest all the profit and buy more hashing, with a bit of trading too. Surely, the best way to invest in bitcoin
BitcoinPyramid: pyramid scheme to earn BTC in two ways:
1) Investing just a few cents of Bitcoins and receiving interest-rates in proportion to the invested amount
2) By bringing other people to register through the link of referral
EARNING BITCOINS BY BETTING, HOW AND WHERE BETTING BITCOINS:
Last way to earn bitcoins is by betting them, but it’s not something we suggest to everyone, because to do that you have to know what you’re doing and what you’re getting into, so if you really want to do that you’ll need to get some information. Below, a list of sites that will allow you to bet in bitcoins:
CloudBet:surely the safest site of betting that accepts payments in bitcoins. You’ll be able to bet on sport or do your bets on casino! Good the “welcome bonus”.That’s it for now! The list of the sites is constantly updated. If you want to contribute by telling us which links are broken or suggesting new services, you can do it using the form below. Thank you!